Technology is changing how people work, travel, read, communicate, shop , do business and manage money.
Banking has always been one such sector that has caught everyone’s eye, be it rapid change in technology or the number of new banks opening up each year.
Retail banking in easier terms happens when the bank are in direct touch with the consumer and using any intermediary such as a corporation or any other bank. Retail Banking came into prominence when the banks started to increase their network in a race to acquire more and more customers. For customers it was a boon as they could find good both Mid & large sized banks opening up in their neighborhood and started to offer better deposit rates, extensive customer support and other value add-ons. Retail banking focuses on dealing with products such as Consumer Deposits, Loans, Cards, and branching out into Wealth Management & Priority Banking.
Retail banking in recent years had been profoundly changed by telecom and Internet services that enable clients to be connected always. Banks need to redesign their organizational structure, rethink their management strategies and train their staff to achieve digital transformation. The shift to the digital is a project of huge scale for most banks as it impacts all activities, including the front and back office. It is a strategic change, which requires the staff to develop a whole new set of competencies.
Because of the legacy banking infrastructure that dates back to the 1970s, it is not an easy feat for current brick-and-mortar banks to introduce a new stack of technology to improve experiences. Apps on smartphones have made consumers’ lives better, but current banking apps have failed to catch up to them.
Despite banks in all major developed markets providing Internet/mobile options, there is a new wave of emerging startups building digital, mobile and online-only banks from scratch. It makes sense when you imagine the man-hours lost to handling paperwork to open an account or apply for a loan, the exorbitant fees for using your credit card abroad, having onerous overdraft charges and non-responsive mobile apps that can only transfer money and check balances.
Study MBA in Digital and Retail Banking at Czech College
The aim of the MBA Digital and Retail Banking is to train future professionals in the digital banking sector. The teaching methods revolve around three broad topics: to follow, understand and ideate on the digital transformation of banks, to acquire and master the financial and digital skills required in today’s commercial banking sector and to train experts to combine multidisciplinary skills with efficient project management.
Czech College based in Prague helps and prepare students to manage a modern business with ease across borders and cultures, as our degrees have a focus on Business, International Management, Finance, Marketing, Entrepreneurship and Operations Management.
Doing MBA in Digital and Retail Banking in Czech College gives you a chance to study a practical degree relevant to the industry and the multicultural environment.
Applicants must have 120 American credits, or 240 ECTS credits. Yet, applicants with 90 American credits or 180 ECTS credits and 2 years of professional experience can be candidates for the MBA.
English test IELTS 6.0 or equivalent requested
Contact Czech College, if you are thinking of studying in Europe . We will be happy to help you with your queries.